Russia cracks down on money mules with stricter bank transfer rules
A new measure to combat money mules will take effect on 1 July. The Federal Tax Service will now monitor bank transfers over 2.4 million rubles for signs of undeclared income. Authorities also plan to track regular monthly deposits of identical amounts to detect suspicious activity. Nikita Yurkov, head of the fraud prevention unit at NSPK’s Fast Payment System Security Center, announced the changes. He explained that money mules often evade detection by switching phone numbers, reissuing bank cards, or obtaining new passports. These tactics make it difficult for banks to flag suspicious transactions.
The tax identification number (INN) will now play a key role in tightening controls. Unlike other personal details, altering an INN is far more complicated. This universal identifier will allow cross-checking risks across both the Mir payment system and the Fast Payment System (FPS).
By linking the INN to monitoring tools, authorities aim to refine detection methods. The goal is to make it harder for money mules to bypass existing restrictions and exploit financial loopholes. The new rules will require closer scrutiny of large and repetitive transactions. Banks and tax authorities will work together to identify undeclared income and disrupt illegal money flows. The changes come into force on 1 July as part of broader efforts to strengthen financial security.
